EUR/USD – 30M – SELLThe combination Euro/US Dollar (EUR/USD) jumps from the bearish trendline down.
A continuation of the bearish trend down to the next support line at 1.03430 is expected.
Caution: A possible change in the direction of the resistance level at 1.04452 should be noted.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish Engulfing’ candlestick chart pattern is found. The candles show ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05124 |
| 2nd High | 1.04471 |
| Next High | 1.04452 |
| Current Price | 1.03895 |
| Next Low | 1.03430 |
| 2nd Low | 1.03328 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing